Spice Communications, in which Telekom Malaysia holds 49 per cent stake, will invest up to $300 million (about Rs 1,200 crore) in its existing circles in Punjab and Karnataka, a senior official of the company said."We have to augment capacity of our existing operations. In Punjab and Karnataka, we will invest $200-300 million," Dilip Modi, group president for global operations, said.
"As we get spectrum for the four circles we have license for, we will invest more, but that also will depend on the active infrastructure sharing we will be having," he said.
Spice has earlier applied for all India Unified Access License, but the department of telecom (DoT) granted it only four circles -- Andhra Pradesh, Haryana, Delhi and Maharashtra -- rejecting its plea for 16 other circles GSM license on the basis of low net worth.
Later, Spice challenged the decision in TDSAT. Spice has already announced an investment of $1 billion (about Rs 3,950 crore) for starting mobile services in four circles and expanding its current operations.
"We will invest $1 billion in four new circles and we expect to roll out our services in the first half of this year," Spice Group chairman B K Modi had earlier said.
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